British-based Betfair Group Ltd. announced Jan. 27 that it had completed its acquisition of the TV Games Network from Macrovision for $50 million in cash consideration.
A simmering dispute over licensing fees tied to account wagering has flared up in Illinois, where horsemen have pulled the Arlington Park signal from TVG in an attempt to get the signal from the upcoming meet at Hawthorne Race Course available through Youbet.com.
TV Games Network set a one-day handle record of $7,555,958 Kentucky Derby day, May 6. The amount was up 18% from Derby day in 2005.
Expansion of account wagering and improvements to existing platforms are a chief objective of Churchill Downs Inc., whose chief executive officer, Tom Meeker, indicated change is needed to generate more industry revenue and maintain or expand the customer base.
TV Games Network set a new quarterly handle record when it processed $119.8 million in wagers in the third quarter of this year. The figure is up 32.1% from the third quarter of 2004.
Racetracks and Thoroughbred horsemen in Ohio remain in a stalemate that has removed the River Downs live signal from all account-wagering services, including one in which the track has ownership.
Legislation that became law July 1 has resulted in the TV Games Network closing the accounts of all Indiana residents.
TV Games Network, the 24-hour horseracing and interactive wagering network, set a one-day handle record May 7 with $6,397,203 in bets. Wagering on the Kentucky Derby (gr. I) alone was $2,767,545.
The son of a National Thoroughbred Racing Association executive follows the Churchill Downs chaplain in a handicapping contest against TV Games Network commentator Todd Schrupp.
Five account-wagering hubs in Oregon handled a total of $883 million last year, up about 6% from the 2003 figure. Meanwhile, fourth-quarter handle for 2004 was down slightly from the same period in 2003, according to Oregon Racing Commission statistics.
TV Games Network has reached an agreement with Philadelphia Park to begin broadcasting and taking wagers on races from the southeast Pennsylvania racetrack effective March 4.
Total wagering on the TV Games Network increased 42% in 2004, and grew 29% in the fourth-quarter of 2004, the network said in a Feb. 24 release. The increase in business was punctuated by record single-day total wagering of $5,148,375 on May 1, Kentucky Derby (gr. I) day.
The TV Games Network and HorseRacing TV have announced new carriage agreements that will expand their reach.
The TV Games Network generated its highest quarterly handle in history from July 1-Sept. 30, when $90,684,755 was bet through the account wagering system. The figure is up 41% from the third quarter of 2003.
The MidAtlantic Cooperative and the New York Racing Association have struck an agreement that will allow cooperative members and their wagering facilities to import the Aqueduct signal effective Oct. 27.
The Belmont Park signal returned to Suffolk Downs Oct. 21after the track and the New York Racing Association struck a deal outside of the MidAtlantic Cooperative, of which Suffolk is a member.
With the New York Racing Association's handle down since its signal was pulled by the MidAtlantic Cooperative in mid- September, NYRA chairman Barry Schwartz said the dispute can be resolved only if the racetracks in the group "come to their senses."
The MidAtlantic Cooperative, which represents 19 racetracks and their off-track betting facilities and account wagering systems, will pull the plug on simulcasts from Belmont Park effective Sept. 15 having failed to strike a deal with the New York Racing Association.
TV Games Network launched on cable television in 13 markets via Comcast Communications, the company announced Sept. 14. About 11 million subscribers will have access to the network through the new carriage deals.
TV Games Network will offer exclusive live coverage of the Keeneland September yearling sale Sept. 13-15, with reports from the Keeneland sale pavilion beginning each day at 1 p.m. (EDT) and continuing until 7 p.m.
Three account wagering providers that hub through Oregon set all-time records for a three-month period in the second quarter of 2004, according to statistics provided by the Oregon Racing Commission.
The TV Games Network will celebrate its fifth anniversary with a one-hour special that will air July 21 at 9 p.m. EDT. The show will be rebroadcast several times beginning at 12:30 a.m. July 22.
Ryan O'Hara, the recently appointed chief operating officer of TV Games Network, has been promoted to president, parent company Gemstar-TV Guide announced Thursday.
The five account wagering hubs in Oregon handled $179,546,773 in the first quarter of 2004, up 13.16% from the first quarter of 2003. Several of the companies had record first quarters.
TV Games Network had a record handle for the both the first quarter of 2004 and the May 1 Kentucky Derby (gr. I).
TV Games Network rolled out new graphics and features, which began appearing in conjunction with the opening of Hollywood Park's spring/summer season, at the April 22 California Horse Racing Board meeting. It also announced an increase in the number of viewers and a slight shift toward experienced racing fans.
Former jockey Corey Black has resigned his position as a racing analyst/ with the TV Games Network in order to pursue a career as full-time agent for jockey Patrick Valenzuela.
TV Games Network will not exercise its warrant to become a majority shareholder in Youbet.com, though it will receive an additional 1-million shares in Youbet for providing notice of its decision prior to April 1.
The Kentucky Senate March 26 passed three-prong legislation that authorizes creation of an international wagering hub, paves the way for live Quarter Horse racing, and gives Standardbred racetracks a tax break.
Legislation to authorize wagering hubs in Kentucky was introduced in the state Senate in early March and is moving through the legislative process as an amendment to a bill that would permit artificially inseminated horses to race in Kentucky. A hub measure was introduced in 2002 but it failed to garner support.
Five account-wagering hubs in Oregon handled $226.97 million in the fourth quarter of 2003, up $75.72 million from the same period in 2002, according to Oregon Racing Commission statistics.
The TV Games Network, The Race For Education, and the National Thoroughbred Racing Association have joined forces to create a three-month summer internship with TVG's production department for a college sophomore or junior studying broadcasting or journalism.
TV Games Network will present a 90-minute preview show of the Keeneland April 2-year-olds in training sale Tuesday at 10:30 p.m. Eastern.
Wagering through TV Games Network rose 34% in 2003 to $213,725,181 and television distribution of the network increased by 45%, the company reported Thursday.
TV Games Network will continue to be distributed on the DISH Network after an agreement was reached on a four-year patent dispute between their parent companies.
Youbet.com has agreed to pay TV Games Network $725,000 and withdraw its proposed staggered board and supermajority voting proxy material in exchange for TVG dropping all pending litigation and related arbitration.
Wider distribution of TV Games Network through the nation's largest cable provider, Comcast, highlights a new joint venture between the cable company and TVG's parent company, Gemstar-TV Guide.
Jill Byrne, who has previously worked in studio and as an analyst and reporter on such TVG programming as "The Works" and "Trackside Live," will join the network as a full-time analyst beginning with TVG coverage of the Keeneland spring meet on April 2.
Mark Wilson has resigned as president and chief executive officer of the TV Games Network but will take over as chairman of the company, Gemstar-TV Guide announced Feb. 4.
Youbet.com and minority shareholder TV Games Network have settled an ongoing dispute by agreeing to delay court proceedings and arbitration hearings over proxy materials sent to Youbet shareholders last fall.
Pompano Park in South Florida Dec. 31 will be the scene of the only race in the world that will span two different years.
The National Thoroughbred Racing Association's operation of wagering hub in Oregon met with much resistance from some of its member racetracks at the beginning of the decade, but one thing's for certain: The concept has caught on, even though the NTRA is no longer a player.
TV Games Network, a shareholder in Youbet.com with an option to buy a majority interest in the company, has filed a lawsuit against Youbet for proposed changes to voting and term limits for its board of directors.
The five account-wagering companies that have multi-jurisdictional tote hubs in Oregon reported gains in handle in the second quarter of 2003 compared with the first quarter of this year. Total handle through the five hubs was $222.21 million, up about 150% from the second quarter of 2002.
Account-wagering providers and others in the pari-mutuel industry are working behind the scenes to remedy a situation that has kept bettors with certain credit cards from making legal Internet wagers.
The queen and king of racing Muledom are set for another match race May 23 at Los Alamitos Race Course in Southern California.
TV Games Network has reached agreements with two cable television services that will carry the 24-hour horseracing and interactive wagering network.
In a deal announced April 9, Rupert Murdoch's News Corp., part owner of TV Games Network parent Gemstar-TV Guide, would acquire General Motors' stake in Hughes Electronics and another piece of Hughes from public shareholders.
Gemstar-TV Guide International reported a net loss of $6.23 billion, mainly from write-downs for goodwill, for fiscal year 2002. Meanwhile, the company's interactive platform sector, which includes the TV Games Network, posted revenue gains.
Account wagering through several hubs based in Oregon continued to ramp up in the fourth quarter of 2002, according to figures released by the Oregon Racing Commission.
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